FANG — Diamondback Energy, Inc.
Energy · Oil & Gas E&P
About Diamondback Energy, Inc.
Diamondback Energy, Inc., an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas, the United States. The company primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland Basin; and the Wolfcamp and Bone Spring formations of the Delaware Basin, both of which are part of the Permian Basin in West Texas and New Mexico. Diamondback Energy, Inc. was founded in 2007 and is headquartered in Midland, Texas.
The shale & E&P industry
Exploration & production companies are the pure upstream bet: they own acreage, drill wells, and sell oil and gas at whatever the market pays. Shale wells produce most of their oil in the first couple of years, so these companies must keep drilling just to hold output flat — which makes cost per barrel, acreage quality, and the hedging program the whole game. Some names here are mostly natural gas (EQT, Antero) — a different commodity with its own cycle, increasingly tied to LNG exports and power demand. The sector has consolidated hard — Pioneer, Hess and Marathon Oil were all swallowed by majors — and the survivors are larger and more disciplined. Expect these to amplify every move in the underlying commodity, in both directions. Diamondback is a Permian pure-play that scaled into one of the basin's largest producers through the Endeavor merger.
Key data · delayed ~15 min, as of 1 August 2026
| Ticker | FANG |
| Company | Diamondback Energy, Inc. |
| Price | $202.95 |
| Market cap | $57.1B |
| Sector / industry | Energy / Oil & Gas E&P |
| Analyst mean target | $230 (28 analysts, strong_buy) |
Valuation read
What the price implies: the market is pricing in roughly ~-2%/yr earnings growth (discounted), on a reverse-DCF of forward earnings ($17.36). Run your own assumptions in the fair-value calculator.
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